Governor Gretchen Whitmer made the following statement after the release of the latest Michigan economic data showing that the state has been adding jobs for 10 months in a row and has a low unemployment rate of 4.7%. Although there is still work to be done, Michigan’s economic momentum is undeniable – 172,000 jobs were created in the state in February.
“Michigan is on the move. In difficult times, the people of Michigan continue to work hard and build our economic momentum. For ten months in a row, our economy has added jobs, and unemployment continues to decline. From February 2021 to February this year, 172,000 jobs were created in Michigan, and this trend will continue as we continue our efforts to expand economic development, help small businesses and reduce taxes for the elderly and working families.
“We will continue to work to reduce costs for families, especially in light of rising prices due to the invasion of Ukraine and the ongoing problems in the supply chain caused by the effects of the pandemic. I have announced a “More for MI Money” Plan that will provide immediate assistance to families by suspending the state tax on gas sales, abolishing the pension tax to save half a million michiganders, $ 1,000 a year, and tripling the tax credit for seven workers to invest $ 3,000. in the pockets of 730,000 families.
In addition, we are giving every Michigan-insured driver a check for a $ 400 car insurance refund and have urged Congress to suspend the federal gas tax, which will further reduce costs.
“Michigan’s future is bright and I will continue to work with anyone to address the kitchen table issues that are most important to families. Let’s focus on developing our economy, creating well-paid jobs and reducing costs for families. ”
The numbers are clear: Michigan’s economy is booming. According to Bloomberg, the state has felt its own better economic recovery in history over the past two years. Michigan is №1 nationwide, based on equally weighted rates of employment, personal income, house prices and stock market performance of public companies. The state is also in the midst of a manufacturing boom, adding 20,000 jobs in the automotive industry since taking office as governor of Whitmer and many other high-skilled and in-demand jobs in a variety of fields ranging from semiconductor chips and software to agriculture. Michigan is great among investors as bonds yield better rates than ever, and the state has moved from a projected deficit of $ 3 billion at the start of the pandemic to a surplus of $ 7 billion today.
In November, Governor Whitmer signed a two-party bill to abolish the tampon tax. In December, the governor signed a bipartisan tax cut for small businesses, allowing small business owners to exempt more from their personal property. In a governor’s state appeal in 2022, Governor Whitmer proposed lower taxes for the elderly and working families. She proposed abolishing the pension tax, which would return an average of $ 1,000 in the pockets of half a million elderly people who worked hard and played by the rules. She also proposed a triple tax credit on Michigan’s earned income, which would levy $ 3,000 in taxes in the pockets of 730,000 working-class families. This tax cut will return thousands of dollars in the pockets of more than 1.2 million families across Michigan, ensuring that the price increase does not affect them so much.
Reduce the cost of prescription drugs
In her address to the state in 2022, Governor Whitmer spoke about the ongoing investigation by Attorney General Dana Nessel against one of the three largest pharmacological companies that produces almost all insulin in the United States. The Attorney General is trying to use the Michigan Consumer Protection Act to investigate the role that drug companies play in raising prices. Reducing the cost of insulin will save lives and help Michigan residents pay their bills, put food on the table or save for the future. Governor Whitmer will work with anyone to prosecute pharmaceutical companies, lower insulin costs and save lives.
The governor also signed Fr. bipartisan bill last month required pharmacy managers to submit transparency reports, ensuring that Michigan residents have access to information on the backend cost and profits of the drugs they are prescribed. It facilitates oversight by requiring pharmacy service managers to acquire a license in Michigan.
In December, Governor Whitmer signed bipartisan legislation Empowering Michigan’s economic development through a fund that will provide the Michigan Economic Development Corporation, or MEDC, with a new set of powerful tools to launch some huge projects into their pipeline that would result in billions of investments and tens of thousands of jobs. The legislation led to GM’s announcement of a $ 7 billion investment in Michigan to produce electric vehicles and batteries. It has also set up a small business assistance fund, building on the state’s work since March 2020 to create 23 economic assistance programs and transfer more than $ 240 million to small businesses in all 83 Michigan counties.
Since taking office as Governor of Whitmer, Michigan has invested nearly $ 4.75 billion in repairing, replacing or rehabilitating more than 13,000 miles of roads and more than 900 bridges. $ 3.5 billion governor Recovering Michigan The plan calls for moving the dirt to fix the roads with the right mix and materials, supporting 45,000 jobs, and ensuring that workers can get to work and parents can safely leave their children at school.